Flashback: Price of Oil Tumbles in Wake of Saudi's Promise to Increase Output

This was the headline:

Crude Oil Prices Tumble As Saudis Signal Unilateral Production Increase

This was the story:  

Energy prices fell June 10 with crude dropping 2.6% to less than $100/bbl on reports Saudi Arabia will unilaterally increase production targets by as much as 500,000 b/d after an acrimonious meeting of the Organization of Petroleum Exporting Countries earlier in the week.

This was the date of the story: June 13, 2011

The price of oil closed today (June 14, 2011) at $99.59.

Yup, WTI crude is less than $100/bbl. Saudi has signaled that it will increase production.